Is the government captive in the hands of powerful lobbies?
Well, I think some arrangement has been made somewhere. Finally I said that we all say that agriculture is a priority sector. All over the world interest rates in the agriculture sector are less than other sectors. In India if you want to buy a car the dealer comes running with forms filled and loans are offered at 8 per cent but if you want to buy a tractor, then the farmer has to mortgage his land, you have to get no objection certificate from two government officials and then he has to pay an interest of 14 per cent. If you want to borrow money for a crop loan, one has to pay an interest rate of 14 to 19 per cent. If you want to build a house, loans are available at 9 per cent. Basically, all our resources which are even otherwise limited are going to the rich, the organised and the powerful.
